Sally's sushi shop last year had (1) a negative net cash flow from operations, (2) a negative free cash flow, and (3) an increase in cash as reported on its balance sheet. Which of the following factors could explain this situation?

a. the company sold a new issue of common stock

b. the company had a sharp increase in its inventories

c. the company had a sharp increase in its depreciation and amortization expenses

d. the company had a sharp increase in its accrued liabilities

e. the company made a large capital investment early in the year